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Highlights

  • BMY’s Q1FY25 revenue fell by 5.6% YoY, while total cash and cash equivalents rose by 5.1% YoY.
  • The company declared a USD 0.62 per share quarterly dividend on common stock, payable on August 1, 2025.
  • BMY declared a USD 0.50/share quarterly dividend on convertible preferred stock, payable on September 2, 2025.

Bristol-Myers Squibb Company (NYSE: BMY) is a global biopharma leader dedicated to developing innovative treatments for serious diseases. Its pipeline spans therapeutic areas such as immunology, oncology, haematology, cardiovascular health, neuroscience, and more.

In the first quarter of the financial year 2025 (Q1FY25), the company’s revenue fell by 5.6% YoY to USD 11,201 million, primarily due to a 20% decline in legacy portfolio revenue driven by generic competition for Revlimid, Pomalyst, Sprycel, and Abraxane, despite 16% growth in its newer portfolio. Net income available to common shareholders was recorded at USD 2,456 million, down from USD 11,908 million in Q1FY24, primarily due to the absence of IPR&D acquisition gains and reduced operating expense benefits, partially offset by lower revenue. Net operating cash inflows declined by 31.1% YoY to USD 1,954 million, primarily due to unfavourable changes in net working capital, partially offset by reduced acquisition-related expenditures and higher net income. However, total cash and cash equivalents increased by 5.1% YoY to USD 10,875 million, supported by cash flows from operating activities, partially offset by outflows from investing and financing activities.

Recent Business Update

BMY announced a quarterly dividend update, declaring a cash dividend of USD 0.62 per share on its common stock, which is expected to be paid on August 1, 2025, to shareholders of record as of July 3, 2025. The company declared a quarterly dividend of USD 0.50 per share on its convertible preferred stock, scheduled for payment on September 2, 2025, to shareholders of record as of August 5, 2025.

Company Outlook

Bristol Myers Squibb has raised its full-year 2025 revenue guidance to USD 45.8–46.8 billion, up from USD 45.5 billion, driven by decent Growth Portfolio momentum, better-than-expected Legacy Portfolio sales, and a USD 500 million benefit from favorable foreign exchange. Non-GAAP EPS guidance was also revised upward to USD 6.70–7.00 from USD 6.55–6.85, supported by an anticipated USD 100 million increase in royalty and interest income.

Operating expenses are now projected to rise slightly to USD 16.2 billion due to FX-related pressures, while the gross margin and effective tax rate are expected to remain steady at 72% and 18%, respectively. Although clinical trial setbacks pose challenges, the company’s diversified portfolio and disciplined execution support its growth outlook, despite ongoing risks from generic competition and potential U.S.-China tariff developments.

Top 10 Shareholders

The top 10 shareholders collectively hold approximately 35.06% of the company’s total shares. Among them, The Vanguard Group, Inc. and BlackRock Institutional Trust Company, N.A. have the largest individual stakes, owning 9.36% and 4.80%, respectively.

Stock Information

The stock has recorded a decline of approximately 2.43% over the past month and around 17.37% over the past six months. Moreover, it is trading above the average 52-week high price of USD 63.33 and 52-week low price of USD 39.35, with a closing price at USD 46.92 as of July 03, 2025.

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is  July 03 2025. The reference data in this report has been partly sourced from EODHD/Others.

 Technical Indicators Defined

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.